7.10.20

Friday Five Business Briefing – July 10, 2020

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Consumers business services

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In a constantly changing business environment, here’s news to help you run your business better, including a key date for PPP borrowers, expectations for business recovery, and team building activities for teams working remotely.

  1. A key date for PPP borrowers — The U.S. Department of the Treasury released guidance on the maturity of PPP loans. If your loan received an SBA loan number on or after June 5, 2020, the loan has a five-year maturity; if it received an SBA loan number before June 5, 2020, it has a two-year maturity—unless the borrower and lender mutually agree to extend the term. Get more details. Learn the latest on PPP loan forgiveness from Consumers
  2. CEO expectations for business recovery from coronavirus — Most corporate leaders expect business conditions to recover by the end of 2021. However, 27% expect the recovery to last longer. Read more about The Business Roundtable’s
  1. Safely reopening during COVID-19 — Some businesses that have reopened or plan to soon are adding another layer of safety for employees. They’re using return-to-work services that track employee health and help assess risk. Learn about six services helping to bring back employees safely.
  1. Tax Day is 5 days away; are you getting all your deductions? 2019 income taxes are due July 15; make sure you get the education and childcare tax deductions as well as other credits you’re entitled to. Get the details.
  1. When you can’t have your annual summer outing — With a limit on large gatherings, companies have to forego annual outings and summer picnics this year. Here are 12 team building activities to help remote workers connect with each other.

Thank you to our Friday Five sources: Forbes, CNBC, U.S. Chamber of Commerce and Fast Company.

Do you have business banking questions? Contact our knowledgeable business development managers online or call 800-991-2221. We’re also available to help in person at your local office.

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Consumers business services

Do you have business banking questions? Contact our knowledgeable business development managers.

Learn more

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